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May 17, 2024 |
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| Home > Small Business Lenders by State > Tennessee Business Loan Sources > Greeneville, Business Loans > First Tennessee Bank Greeneville Business Loans > Retail Nurseries, Lawn And Garden Supply Stores Loan | ||||
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Bulls Gap SBA Loans
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First Tennessee Bank Gives Business Loan to Retail Nurseries, Lawn And Garden Supply Stores CompanyLooking to get a Tennessee SBA loan? This Tennessee entrepreneur got an SBA loan, provided by a Tennessee bank that works with the SBA to help small business owners. By giving the right information to First Tennessee Bank, this Bulls Gap, Tennessee business was able to get an SBA loan. To get this loan, the applying company gave the lending institution and the SBA a clear description of what the loan proceeds would be used for and how they intended to pay the loan back. SBA Loan Borrower COMPANY TYPE: RETAIL NURSERIES, LAWN AND GARDEN SUPPLY STORES SBA Loan Lender FIRST TENNESSEE BANK This lender issued this SBA loan under the SBA 7A lending program , in which the SBA provides guaranteed loans to small business owners. This lending program was started in 1953. In the early days of the SBA, these loans were issued directly by the SBA. Today, SBA loans are issued primarily through approved banks and lenders. SBA Loan Program Type This loan was issued as a general business loan. SIC Code 5261 - Retail Nurseries, Lawn and Garden Supply Stores NAICS Code 444220 - Nursery and Garden Centers Loan Approval Date 2/23/2004 Loan Approval Gross Amount $29,900 Loan Approval from the SBA Of the total $29,900 loan amount, the SBA guaranteed $25,415. More Information on This SBA Loan The borrower borrowed this money for an existing business. The SBA's records indicate that the loan was not for investment in a franchise. At the time of the loan, the company had only one employee. The SBA loan documents did not indicate that the small business planned to use the funding to hire new employees or retain any existing employees. Next Steps for Getting an SBA Loan Don't forget. To get an SBA loan, you must apply for an SBA loan with a local or national bank, not with the SBA. The bank processes the loan and gives you the money, and the SBA simply guarantees a portion of the loan. Folks who know a lot about raising money for companies know that SBA guaranteed loans are a great funding source for small businesses. Talk to a bank like First Tennessee Bank and they will explain how you can get an SBA loan for your company. About This SBA Loan Information: All SBA loan data displayed above comes from the government's publicly available SBA loan database. Information on this page is provided by the Gaebler.com news organization to inform business owners, aspiring entrepreneurs and others about SBA loan activity. LoanCensus.com does not assist businesses with obtaining SBA loans and was not involved in any way with this transaction. For additional information, see our Loan Information FAQ. Related Links: Best Banks in Greeneville, Tennessee
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